Changpeng Zhao, the founder of digital currency exchange Binance, has announced that he is prepared for a long legal battle with Craig Wright if a defamation lawsuit hits him or the exchange.
The Australian businessman has been aggressively sending out legal notices to anyone that dares reject his claims of being Satoshi Nakamoto, the pseudonymous Bitcoin founder whose identity remains a mystery to this day.
Earlier this week, Wright threatened defamation charges against Twitter user and Bitcoin community member Hodlonaut for calling him a fraud. A significant percentage of the cryptocurrency community believes that Wright is attempting to impersonate Satoshi Nakamoto and mislead the community for self-gain.
On April 11, 2019, Zhao rejected the idea that Craig Wright was Satoshi and threatened to delist Bitcoin SV from Binance if its controversial founder did not fall in line. When concerned cryptocurrency users warned Zhao that Wright would sue him for defamation like in other recent cases, Zhao said that he was not afraid.
According to Zhao, Binance’s legal team is well equipped to send a befitting reply. He pointed out that the case defendant would be eligible to receive compensation for its legal expenses. Binance has an army of lawyers who have successfully defended the exchange in the past and have won financial compensation.
oh, and it won't be the first time, and we learned a few things. The losers pay for our lawyer fees. We have a number of very good/expensive lawyers.
— CZ Binance (@cz_binance) April 12, 2019
The common man, on the other hand, is unable to foot legal bills of this calibre, which is one of the biggest drawbacks of the current judiciary system. This allows powerful individuals and organizations to harass and threaten them with legal suits. Changpeng Zhao said that he was not afraid of a probable Craig Wright defamation suit against him or Binance, even if it exceeded a million dollars.
Craig Wright and his legal counsel believe threatening critics with a legal lawsuit may instill fear in them and force them to apologize. Peter McCormack and Hodlonaut have both been asked to apologize for calling Craig Wright a fraud and agree that he is indeed Satoshi Nakamoto.
1/ So I got my letter from Craig Wright and @CalvinAyre. This is what they are sending out to people, now you can all see.
I absolutely reject their requirements.
(PS I don't recommend anyone else does this). pic.twitter.com/olpLUdwDyM
— Peter McCormack (@PeterMcCormack) April 12, 2019
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After Hodlonaut was served a legal notice, Zhao said that the attack was directed at the crypto community as a whole. His views resonated across other users, who were already critical of Wright’s actions. A crowdsourcing campaign titled ‘We Are All Hodlonaut’ was launched to financially assist the Twitter user’s legal battle against the Australian businessman.
Craig Wright played a key role in the creation of Bitcoin Cash (BCH), the most well-known Bitcoin hard fork which was launched in August 2017. He found himself at the centre of another ideological divide when he forked Bitcoin Cash to create Bitcoin Satoshi Vision (BSV).
His past actions have damaged his credibility in the crypto community besides bringing him disrepute and ridicule. On February 12, 2019, Wikileaks published evidence on how Wright forged past blog posts to impersonate Satoshi Nakamoto and proclaim himself as the creator of Bitcoin (BTC).
Do you think Binance will delist Bitcoin SV if Craig Wright keeps sending legal suits to his critics? Let us know your thoughts in the comments below.
Images courtesy of Twitter.